Thursday, 28 February 2013

Typically, only 30% of oil and gas reserves are recovered
from an oil field beneath the ocean floor. Increasing recovery by only 2-3%
could be worth more than $1bn for the average field. As we approach the end of easy-to-access
oil and gas worldwide, more cost-effective technologies are needed to improve
the recovery of existing reserves to 40%, 50% or even 60%.

The results

To identify untapped oil reserves, companies build detailed
3D images of offshore fields. The seismic data is obtained from sensing systems
which measure sound waves. These are transmitted through the earth and
reflected back from the various layers of rock. But conventional electrical
systems are costly, prone to failure and have high maintenance costs. They can
also be a safety hazard. Developed with the help of more than £1m from the
Technology Strategy Board, the Fosar® system does not need subsea electrical
power and could now provide a more reliable and cost-effective way of
maximising oil and gas recovery.

By commercialising a fibre-optic technology first developed
in the UK for anti-submarine warfare and security purposes, British company
Stingray has shown how operators can ‘listen with light’ to detect levels of
oil and gas beneath the sea. The Fosar system consists of a permanently
installed network of optical sensors (potentially running hundreds of
kilometres across the sea floor) which send signals to recording equipment
above. The sensing arrays are small, lightweight and easy to install in deep
water and around subsea installations.

A series of successful trials was held in the North Sea which
led to the commercial launch of the Fosar system in May 2009. As oil reserves
dwindle the race is on to extract what’s left. With the market for permanent
oilfield monitoring estimated to be worth between $500m and $1bn a year by 2015
it is no surprise that the venture capitalists and oil companies who have
already invested more than £10m in Stingray are watching future product
developments keenly.